Bitcoin is unintentionally deflationary

By 8bitb4rt | Proof of Work | 28 Aug 2022

Bitcoin is unintentionally deflationary.

According to some estimates, about 4 million bitcoin is lost forever and the current circulating supply is at 19,128,000 ish. This means about 20% of all BTC is in permanent HODL mode and will never be sold. In addition, every single day someone sends to an incorrect address, loses some keys, or dies.

I would personally say 4 million is very conservative and I bet the actual lost number is between 5-7 million BTC.

Does this mean that BTC will never lose more than 80% of its current value and thus it is impossible to fall below 4k?

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Welcome to my proof of work book club! Since it’s a bear market right now, I thought it practical to go back and read some books written from previous cycles. I was curious how well they aged and how they would tell an interesting story without seeming irrational due to the volatile nature of cryptocurrency. I’ve found that most reviews seem to be done by no coiners, or folks with very limited crypto exposure. Thus, I think a lot of reviews are misleading or just plain lame. Ill also post about BTC here.

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